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Friday, April 30, 2010

damned if u do, damned if u don't

The Government is hell bent on humbling Goldman, and all financial players should take note. There is only one Master of the Universe, and that's Uncle Sam.

My target remains: the daily 500SMA is my entry point.

I do not think much will come from this. There maybe discovery of some individuals with wrong doing, but I seriously doubt the SEC or DOJ will find a firm wide systemic issue promoting fraud or improper trading.

In the mean time, any action a bank does can be considered improper. Whether they manage risk properly or allow themselves to fail.

What annoys the hell out of me is that no failed bank or CEO got anywhere near a similar beating as the Goldman folks got.